Hmm, I had a look at their blog, and I have mixed feelings. Lots of it is stupid. Lots of the titles contain spelling errors that would be embarrassing for a 14-year-old. But some of it is thoughtful and interesting, albeit basic, like this post on contract law and blockchains: https://lexdao.substack.com/p/legal-contract-formation-in-sm...
I do think there's space for some more serious and professional lawyers to think, and possibly provide some solutions, in this space. Hell, even if you think it's a scam, it would still amount to an interesting case study in how the law intersects with technology.
The idea is to sell an idea. They learned from Theranos that you shouldn't sell something that is verifiable. For example, if you sell a legal service and that legal service doesn't provide value, people can verify that your service was worthless and call it a scam.
However, if you sell the idea that crypto legal services could exist in the future, you are selling something that is unverifiable. You will never be able to prove that the idea of crypto legal services was a scam. The idea exists and the future exists.
So these "Crypto Projects" will say something like "We are community supporting innovation in decentralized insurance and smart contracts" So all they are on the hook for is "supporting innovation". Which doesn't mean anything other than saying you on in favor of innovation.
When you ask for an example of something they support, they will list people "Doing interesting things". But those people also are just "exploring innovation", they also are not actually selling insurance policies on the block chain.
I do think there's space for some more serious and professional lawyers to think, and possibly provide some solutions, in this space. Hell, even if you think it's a scam, it would still amount to an interesting case study in how the law intersects with technology.